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5 NEWS 29.9.2022 Flexjet chooses Malta to register its first Gulfstream G650 in Europe Malta Stock Exchange crucial to economy becoming climate neutral - Robert Abela The highest increase in employment when comparing April 2022 with April 2021 was registered amongst Third Country Nationals, where the number of full-time employees increased by 21.0 per cent and the number of part-time employees (as a primary job) increased by 9.4 per cent. This result is expected given that the Maltese labour market is nearing full employment with record low unemployment rates and a constantly declining inactivity rate. This limits the growth rate of employment of Maltese nationals relative to the other supply labour markets, posing a barrier to economic growth. third country nationals THE premium private jet operator Flex- jet has registered its first Gulfstream G650 in Europe, with a second of the ultra-long-range jets set to join the fleet within the next six months. Following the success of its Gulfstream G650 programme in the U.S., Flexjet will now provide its owners in Europe with the same in ultimate long-range private travel - the first time the iconic aircraft has become available in Europe on a shared ownership programme. Offering a maximum range of near- ly 11,500km and a top cruise speed of Mach 0.925, the Gulfstream G650 joins a number of Flexjet's existing su- per-midsize Embraer Praetor 600 fleet in being registered in Malta and operat- ed by its Maltese operation. Since securing its Maltese Air Opera- tor Certificate in July 2021, Flexjet has expanded its team and infrastructure in Europe, including moving its Op- erational Centre to new, larger offices in Malta's Ta'Xbiex district earlier this month. is adds to its European sales office in London's Mayfair; Tactical Control Centre at Farnborough Airport; and aircraft maintenance facility based in Milan, Italy - demonstrating its strong commitment to a Europe-wide pres- ence. "Our ultra-long-range programme is well-established in the U.S., and we are delighted to welcome our first Gulf- stream G650 into our European fleet - a significant investment that is a key milestone in our ambitious expansion plans," said Marine Eugène, Flexjet Eu- ropean Managing Director. "With an +153% annual uplift in fleet activity so far this year, and our pro- grammes in strong demand, this excep- tional aircraft significantly enhances our world-class product offering". "Registering our first European Gulf- stream G650 in Malta demonstrates how pivotal this location is to our future growth. We have been impressed by its dynamic and professional aviation com- munity, and growing pool of industry talent. As we continue to invest in our operation here, I look forward to build- ing on our excellent relationship with Transport Malta's Civil Aviation Di- rectorate, who share our commitment to the highest standards of safety and compliance," he said. Every Flexjet Gulfstream G650 pro- gramme in Europe is fully inclusive of measures designed both to mitigate through offsetting and to begin to make active emissions reductions. Working with the aviation sustainabil- ity consultancy 4AIR, all Flexjet flights already include offsetting made at 300% of carbon emissions, to allow for both CO2 and non-CO2 pollutants. Additionally its Gulfstream G650 pro- gramme includes a 5% emissions re- duction through the use of Sustainable Aviation Fuel (SAF) by direct fuel uplift or via a book-and-claim system. Earlier this month, Flexjet announced its com- mitment to have 12% of its annual glob- al fuel consumption come from SAF by 2030, through a partnership with Alder Fuels and 4AIR. THE Malta Stock Exchange must fa- cilitate the transformation of the Mal- tese economy to a climate-neutral one, Prime Minister Robert Abela said on Wednesday. Abela was addresing the general as- sembly of the World Federation of Ex- changes, currently being held in Malta. "e Malta Stock Exchange needs to continue pushing innovation and creat- ing new solutions so that a pool of do- mestic savings, which mostly lies in bank deposits, finds its way to firms that want to invest and grow even in Malta," he said. Government will actively seek to aid this process and provide the right framework for this shift to occur. Leaders of the largest stock exchang- es in the world and representatives of investors, who form part of the world's economic infrastructure, were present for Abela's address, in which he added that the challenge to transform into a climate-neutral economy has the po- tential to be the biggest economic op- portunity for our generation. "I believe that the finances to make this ambitious transition are there and I also believe that the financial services sector has a key role in both decarbon- isation and also in the digitalisation of our country," Abela said. He insisted that Malta remains com- mitted to fostering economic interna- tional cooperation, and outlined how the country has one of the most open economies in the world, with imports and exports exceeding its gross domes- tic product. Abela highlighted Malta's strong finan- cial services sector, one of the largest maritime flags, a booming aviation ser- vices sector and a fast-expanding infor- mation technology and gaming industry. In this context, he said, the Malta Stock Exchange has played a key role in these developments, having seen great diversification, and is now listing over 100 local corporate entities. Robert Abela addressing the general assembly of the World Federation of Exchanges

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